Net revenues

Travel + Leisure·Products & Services·17 segments·Rolls up to Total Revenue

Breakdown

Segment	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Vacation ownership interest sales	$441M	$455M	$456M	$384M	$474M	$494M	$495M	$427M
Property management fees and reimbursable revenues	$210M	$216M	—	$223M	$217M	$218M	—	$223M
Transaction revenues	$126M	$116M	—	$130M	$117M	$119M	—	$117M
Consumer financing	$111M	$114M	$115M	$112M	$112M	$115M	$115M	$113M
Deferred subscription revenue	$44M	$44M	—	$43M	$43M	$43M	—	$42M
Subscription revenue	$44M	$44M	$46M	$43M	$43M	$43M	$43M	$42M
Fee-for-Service commissions	$27M	$16M	—	$16M	$26M	$22M	—	$11M
Eliminations	$0	-$1M	—	-$2M	-$2M	-$2M	—	-$2M
Ancillary revenues	$1M	$1M	—	$1M	$1M	$1M	—	$0
Total	$985M	$993M	$971M	$934M	$1.02B	$1.04B	$1.03B	$961M

Exchange-related revenue is derived from annual filings.

Ancillary revenuesView metric

Consumer financingView metric

Deferred exchange-related revenueView metric

Deferred subscription revenueView metric

EliminationsView metric

Exchange-related revenueView metric

Fee-for-Service commissionsView metric

Management Fee RevenueView metric

Management fee revenuesView metric

Property management fees and reimbursable revenuesView metric

Reimbursable revenuesView metric

Reimbursement RevenueView metric

Service and membership feesView metric

Subscription revenueView metric

Transaction revenuesView metric

Vacation ownership interest salesView metric